16 – Intangible assets

On October 31, 2023, the Borealis Group acquired 100% of the shares in Rialti S.p.A. This led to EUR 29 mn of changes in the consolidated group, including EUR 21 mn goodwill. The fair values of the acquired assets and liabilities are preliminary and may be adjusted later. An additional EUR 29 mn was included in the consolidation group, resulting from the change of consolidation method of Renasci N.V. after Borealis increased its stake from 27.42% to 50.01% as of January 11, 2023. In 2022, the changes in the consolidated group included EUR 428 mn from the deconsolidation of JSC GAZPROM YRGM Development.

Additions to intangible assets in 2023 included EUR 37 mn (2022: EUR 37 mn) of additions for internally generated assets, mainly related to capitalized development costs.

In 2023, transfers were mainly related to OMV Petrom following the final investment decision for the Neptun Deep project. Consequently, the related oil and gas assets in the amount of EUR 483 mn were reclassified from intangible assets to property, plant, and equipment.

The intangible assets of the SapuraOMV disposal group with a total carrying amount of EUR 275 mn were reclassified to assets held for sale. For details see Note 22 – Assets and liabilities held for sale. In 2022, intangible assets amounting to EUR 27 mn were transferred back from assets held for sale, mainly related to OMV’s share in the Maari field in New Zealand.

Further details on impairments and write-ups can be found in Note 8 – Depreciation, amortization, impairments and write-ups.

Goodwill arising from business combinations has been allocated to the following CGUs and groups of CGUs, for impairment testing:

In 2023, the goodwill related to the SapuraOMV disposal group was reclassified to assets held for sale. For details refer to Note 22 – Assets and liabilities held for sale. The remaining goodwill allocated to Energy decreased due to unfavorable currency translation differences.

Goodwill impairment tests based on a value in use calculation were performed and did not lead to any impairments. For the impairment test of the goodwill allocated to the Middle East and Africa, an after-tax discount rate of 10.00% (2022: 10.47%) was used.

An after-tax discount rate of 16.42% (2022: 12.67%) related to the goodwill allocated to the Middle East and Africa would lead to zero headroom.

For details on contractual obligations for the acquisition of intangible assets, refer to Note 17 – Property, plant, and equipment.